- Analytics
- News and Tools
- Market News
- NZD/USD: Weakness is viewed as corrective whilst above 0.6782/80 – Credit Suisse
NZD/USD: Weakness is viewed as corrective whilst above 0.6782/80 – Credit Suisse
NZD/USD has broken short-term support at 0.6876/65, which suggests a corrective move lower. However support at 0.6782/80 is expected to hold, analysts at Credit Suisse report.
NZD/USD extends the decline
“Whilst the falling daily MACD hints toward the deteriorating near-term picture, we continue to view the current weakness as corrective only within the context of the upmove from the 2022 low.”
Only a break below 0.6782/80 would challenge this premise and warn of a deeper setback to 0.6728/22 and then potentially to 0.6631.”
“Resistance moves to 0.6854/64, next to 0.6892/6910 and then to 0.6947. Above here would see scope to challenge the YTD high at 0.7030/34, though only a stable move above the mid-November high and the 2021 downtrend at 0.7050/53 would signal further medium-term strength.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
